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Ford Announces $3.7B Investment in EVs, New Mustang

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KEYWORDS EVs Ford midwest

June 6, 2022—Ford on Thursday announced a $3.7 billion investment across three states in the Midwest.

According to a report from CNN, the investment will be used primarily to bolster the company's EV infrastructure and for production of a new, yet-to-be-announced Mustang.

Around $2 billion will be invested into facilities in Michigan; specifically, the Dearborn facility that produces the F-150 Lightning and the Ford Ranger plant in Wayne. That portion of funding will also be used to build a new Mustang variant in Flat Rock, though it is unclear at this time if that version will have an electric drivetrain.

Another $1.5 billion will be used to build a new commercial electric vehicle at the automaker's facility in Ohio, and another $100 million will go to build an engine and transmission facility there as well.

The last $95 million will be spent in on a facility in Missouri to add an additional factory shift.

The investments are expected to create around 6,200 jobs. Ford also said it will spend another $1 billion over the next five years to improve the workplace environment at its factories.

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